Ato Forson addresses concerns over GHS59 billion debt claims, says net borrowing is GHS7.1 billion
Finance Minister Dr. Cassiel Ato Forson has clarified that the Mahama administration’s net borrowing stands at GHS7.1 billion as of March 1, addressing claims that the government has taken on GHS59 billion in new debt.
He explained that while GHS59.5 billion in Treasury Bill (T-Bill) bids were accepted since January 10, 2025, these funds were primarily rollovers to service maturing debts inherited from the previous administration. Additionally, GHS30.2 billion worth of bids were rejected, reinforcing that the government is not accumulating excessive new debt.
Dr. Forson emphasized that actual debt accumulation remains “virtually zero” due to prudent public debt management measures. He highlighted a sharp drop in the 91-day T-Bill rate from 28.34% to 20.79% within 50 days, which he described as a strong signal of investor confidence in Ghana’s economy.
Meanwhile, President John Dramani Mahama has proposed a national economic dialogue to reassess the ongoing IMF program, ensuring it aligns with Ghana’s economic priorities. Additionally, the country is set to benefit from a debt service relief package, allowing the government to focus on economic recovery and key development initiatives.
By: Linda Akite
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